COLORADO SPRINGS, Colo.--The merger between Ent Credit Union here and Apple Valley, Minn.-Minnesota-based Wings CU has cleared its final regulatory hurdle, creating one of the nation’s largest credit unions with nearly $20 billion in assets, The Gazette reported.
Wings members voted to adopt Ent’s charter, completing the last step in closing the agreement, the credit unions confirmed in a joint release. More than 62,000 Wings members — about 20% of the membership — participated in the vote.
With regulatory and member approvals now complete, the combined institution will legally take effect Jan. 1 and operate as Wings Credit Union, reflecting both Wings’ aviation roots and Ent’s Air Force heritage. Ent President and CEO Chad Graves will serve as CEO of the combined organization, which will maintain headquarters in Colorado Springs and Apple Valley, Minn.
Once combined, the new Wings Credit Union will rank among the largest in the U.S., with nearly 90 branches across Colorado, Minnesota, Florida, Georgia, Michigan, and Wisconsin, serving more than 900,000 members, predominantly in Colorado and Minnesota. Ent and Wings first announced the merger in April.